• AUD/NZD has breached trendline support at 1.0615, negative setup could target 1.05 levels but some consolidation likely 
  
  
• Consistant lower highs maintains downside pressure, momentum studies are neutral, 5, 10 & 20 DMAs trend south  
  
  
• Inverted cup & handle pattern observed on daily charts, price action is well below the cloud, RSI is at 34 and points south
  
  
• Watchout for close below 1.0615 for further downside, 1.05 (Oct 30 lows) likely target, place stops at 0.0660

Resistance Levels:

R1: 1.0660 (Session high Dec 21)

R2: 1.0680 (Dec 18 high)

R3: 1.0692 (10-Day MA)

Support Levels:

S1: 1.0615 (Trendline support)

S2: 1.0584 (Dec 18 lows)

S3: 1.0558 (Oct 29 low)